Crypto analyst Pentoshi forecasts new growth in the altcoin market, highlighting the OTHERS index and specific assets.
OTHERS Index and the Altcoin Market
The OTHERS index plays a vital role in determining the overall trends of the cryptocurrency market. It has recently found robust support at the $250 billion level. According to Pentoshi, if the index surpasses the $281 billion resistance level, an acceleration in market movements can be expected. Currently, the index stands at $271.63 billion, nearing the resistance point, urging investors to watch these levels closely.
Injective and Other Altcoins
Pentoshi emphasizes the altcoin Injective (INJ), which continues to hold near its long-term support level of $14. According to current data, INJ is trading at $15.26, and surpassing the psychological threshold of $16 could trigger stronger market movements. Technical indicators suggest that INJ may maintain its upward momentum.
Conclusion
The overall outlook for the altcoin market is becoming increasingly optimistic. Maintaining critical levels such as the $250 billion support and the $320 billion resistance is vital for further growth and determining market movements.
The altcoin market shows positive prospects with the movement of the OTHERS index and key assets like Injective, presenting opportunities for potential growth.
